Unified risk management for your whole organization
Enterprise risk management (ERM) ensures a structured and consistent risk management process is applied across the whole organization. This allows a unified language of risk across the whole organization, allowing companies to better understand their risks across all processes. ERM allows you to understand the interrelated risks between processes and disciplines which may not be seen if risk management is something controlled by individual departments.
Simplify your compliance requirements
Regulatory compliance does not typically apply only to single departments, but to the enterprise as a whole, requiring risk management practices to identify and treat risks as they apply to the entire organization. Being able to show how risks in one process would affect other business functions will allow you to identify areas where part of the organization may be compliant but, due to the knock on effects of a low priority untreated risk in one department, the organization as a whole may not be.
Priorities risks more effectively
By taking a unified view of the risks an organization faces it is possible to priorities risks at an enterprise level, allowing you to directly assess risks against the organization’s objectives and strategy. This enables more efficient allocation of resources, increasing operational efficiency and enabling the company’s risk control efforts to support essential strategic, compliance and governance initiatives.